Retirement villages are sometimes an attractive option because they offer a sense of community and security. While most retirement villas state the minimum age as 55, the average age of residents is between 65 and 80.
Price guide:
$200,000 to $400,000
What to expect:
Retirement villages can vary greatly, from small complexes in suburban areas that look no different from a set of residential units, to large walled and gated communities incorporating sporting facilities, cafes and restaurants.
Accommodation also varies from studio apartments to two bedroom units.
Real estate agent Pam Heron stresses that there is an important difference between retirement villages and assisted living centres, with retirement villas often not offering services such as medical staff or meals.
‘Retirement villas used to offer way more services but we have just taken over management of ten units in an over 55’s block and they don’t have a great deal of services at all,’ said Ms Herron.
‘I think people chose to stay in villages like that for the companionship and support.’
Features that most retirement villages share is a common space such as a meeting room or lounge area and a caretaker who looks after gardens and takes out rubbish bins etc.
Location, location, location:
While inner city retirement villages do exist, outlying villages are often larger and have more facilities.
According to Ms Herron, Mandurah, Port Kennedy and Bunbury are all popular locations for retirees because of their slower pace of life and relaxed atmosphere.
‘The idea of a tree change or sea change is a lot more appealing as we get older,’ she said.
Number one location for GLBTIQ retirees in the future may be Ballan in country Victoria, where Australia’s first exclusively GLBTIQ retirement village is being planned.
The $26 million project will incorporate 120 independent living units, a tennis court, bowling green, open air theatre and much more. Plans are available at www.lintonestate.com.au
Renovations to sell:
Many retirement villa units are owned by investors and rented out, so if you are planning to buy one of these units either as an investment or to sell there are certain important renovation can make a big difference to the tenants or new owners.
Safety rails in showers, bathrooms and toilets are a good idea and accessibility needs to be considered. Not simply doors and entrances to the home, but pathways from the parking area to the home should be kept clear and wide.
Onsite caretakers will often look after common gardens and lawns, while courtyards or private gardens are not included in their services. Therefore, gardens are best kept as low maintenance as possible, with colourful garden beds but not a lot of grass.
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